The association must pay to the holder of any ticket or tickets entitling him to participate in the distribution of a parimutuel pool the amount wagered by such holder plus a minimum of 5% thereof. This requirement is unaffected by the existence of a parimutuel pool which does not contain sufficient money to distribute said 5% to all persons holding such tickets.

Note: Authority cited: Sections 19440 and 19590, Business and Professions Code. Reference: Section 19590, Business and Professions Code.

History

1. Change without regulatory effect amending section heading and adding new Note filed 12-23-96 pursuant to section 100, title 1, California Code of Regulations (Register 96, No. 52).